LTC - Litecoin - Ascending Broadening Wedge
Litecoin has been within an Ascending Broadening Wedge since its bottom in December of 2018, similar to my Etherium analysis, and is currently below the 60-Day Hull Moving Average on the Weekly...
The Daily candle opened lower and below the 8- and 20-Day HMA...
With the support of the 8- and 20-DHMA's on the 4Hour but below all HMA's on the 1Hour...
The measure rule for this patter based on the principles of Charles Bulkowsi are for a maximum target of the beginning of the formation of the pattern, with that here are the targets we are eyeing...
And if we measure the previous local downward move as a Motive Wave...
The Fibonacci levels match pretty closely with our targets...
The bearish technicals on BTC lead me to believe there is a strong chance of this pattern breaking down to these targets.
The Daily candle opened lower and below the 8- and 20-Day HMA...
With the support of the 8- and 20-DHMA's on the 4Hour but below all HMA's on the 1Hour...
The measure rule for this patter based on the principles of Charles Bulkowsi are for a maximum target of the beginning of the formation of the pattern, with that here are the targets we are eyeing...
And if we measure the previous local downward move as a Motive Wave...
The Fibonacci levels match pretty closely with our targets...
The bearish technicals on BTC lead me to believe there is a strong chance of this pattern breaking down to these targets.
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Guess where next...
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